Next event: Amendments tabled in committee 2020/05/19 more...
- Committee opinion 2020/05/05
Progress: Awaiting committee decision
Role | Committee | Rapporteur | Shadows |
---|---|---|---|
Lead | ECON | PÎSLARU Dragoș ( Renew) | KARAS Othmar ( EPP), MAVRIDES Costas ( S&D), URTASUN Ernest ( Verts/ALE), RINALDI Antonio Maria ( ID), VAN OVERTVELDT Johan ( ECR), GUSMÃO José ( GUE/NGL) |
Committee Opinion | BUDG | GARDIAZABAL RUBIAL Eider ( S&D) | |
Committee Opinion | EMPL | ||
Committee Opinion | ITRE | ||
Committee Opinion | REGI | ||
Committee Opinion | JURI |
Lead committee dossier:
Legal Basis:
TFEU 121-p6, TFEU 136
Legal Basis:
TFEU 121-p6, TFEU 136Subjects
Events
PURPOSE: to contribute to the proper functioning of Europe’s Economic and Monetary Union and to the convergence and competitiveness within the euro area by setting out a governance framework for the budgetary instrument for convergence and competitiveness.
PROPOSED ACT: Regulation of the European Parliament and of the Council.
ROLE OF THE EUROPEAN PARLIAMENT: the European Parliament decides in accordance with the ordinary legislative procedure and on an equal footing with the Council.
BACKGROUND: the December 2018 Euro Summit mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for convergence and competitiveness for the euro area. The instrument will be part of the Union budget and adopted on the basis of the relevant Commission legislative proposal to be amended if necessary. The Euro Summit also indicated that the instrument should be subject to criteria and strategic guidance from the euro-area Member States.
In its Communication on ‘Deepening Europe’s Economic and Monetary Union’ of 12 June 2019, the Commission stressed that a budgetary instrument for convergence and competitiveness would contribute to the resilience of the Economic and Monetary Union by supporting coherent packages of reforms and investment aimed at addressing competitiveness and convergence challenges of the euro-area Member.
On 14 June 2019, the Eurogroup agreed a Term Sheet on the key features of the future budgetary instrument for convergence and competitiveness for the euro-area Member States and for the Member States participating in the ERM II on a voluntary basis. As part of the Reform Support Programme , the budgetary instrument for convergence and competitiveness aims to promote cohesion within the Union by providing euro-area Member States with financial support for reforms and investment, as set out in coherent packages. The proposed Regulation intends to organise the governance aspect of that budgetary instrument and must be read in conjunction with the Reform Support Programme.
CONTENT: the proposal for a Regulation shall contribute to the convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and competitiveness, which sets out:
- the strategic orientations on the reform and investment priorities of the euro area as a whole;
- country-specific guidance on the objectives of reforms and investment relevant for the budgetary instrument for convergence and competitiveness consistent with the country-specific recommendations.
Strategic orientations for the euro area
On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area.
The Commission shall, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform the Council of how the strategic orientations have been followed during the preceding years.
Country-specific guidance
The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and competitiveness in Member States whose currency is the euro. This Council Recommendation should be consistent with the strategic orientations adopted under this Regulation, and with the country-specific recommendations that are adopted, in parallel, under the European Semester of economic policy coordination further to discussions, where appropriate, within the relevant Treaty-based committees. The Council Recommendation shall also duly take into account any macroeconomic adjustment programme approved in accordance with the relevant provisions of Regulation (EU) No 472/2013 of the European Parliament and of the Council.
Severe economic recession
The budgetary instrument may set a minimum national co-financing rate as a percentage of the total cost of the reforms and investment. In this context, the proposal provides that, on the basis of an assessment by the Commission, the Council will establish which Member States are considered to be experiencing a severe economic downturn, for the purposes of a modulation of the national co-financing rate within the future budgetary instrument for convergence and competitiveness.
Voting in the Council
The proposed Regulation reaffirms the voting rule in Article 136(2) TFEU in relation to strategic orientations and Council recommendations: only members of the Council representing euro-area Member States will be entitled to vote.
Economic dialogue
In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may host an economic dialogue and invite the President of the Council and the Eurogroup to discuss measures adopted under the Regulation.
Documents
- Amendments tabled in committee: PE652.297
- Committee opinion: PE648.462
- Committee draft report: PE648.522
- European Central Bank: opinion, guideline, report: CON/2019/0037
- European Central Bank: opinion, guideline, report: OJ C 408 04.12.2019, p. 0003-0004
- Contribution: COM(2019)0354
- Legislative proposal published: COM(2019)0354
- Legislative proposal published: EUR-Lex
- European Central Bank: opinion, guideline, report: CON/2019/0037 OJ C 408 04.12.2019, p. 0003-0004
- Committee draft report: PE648.522
- Committee opinion: PE648.462
- Amendments tabled in committee: PE652.297
- Contribution: COM(2019)0354
Amendments | Dossier |
61 |
2019/0161(COD)
2020/04/06
BUDG
61 amendments...
Amendment 10 #
Proposal for a regulation Recital 1 a (new) (1a) Since it was established, the euro area has comprised countries with widely differing approaches to economic, fiscal and social matters, a state of affairs which has seriously undermined its effectiveness. These differences are forcing the Union to adopt legislative acts which encroach on the national sovereignty of its Member States, one example being this budgetary instrument for convergence and competitiveness.
Amendment 11 #
Proposal for a regulation Recital 2 (2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018
Amendment 12 #
Proposal for a regulation Recital 2 (2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies
Amendment 13 #
Proposal for a regulation Recital 2 (2) In order to ensure the proper functioning of the Economic and Monetary Union, Member States whose currency is the euro should take measures to enhance the resilience of their economies through targeted structural reforms and investment. The Euro Summit of December 2018 mandated the Eurogroup to work on the design, modalities of implementation and timing of a budgetary instrument for competitiveness and convergence for the euro area. To ensure that Member States
Amendment 14 #
Proposal for a regulation Recital 2 a (new) (2 a) Member States whose currency is not the euro and which participate in the exchange rate mechanism (ERM-II) should inform the Commission without delay of whether they intend to participate in the budgetary instrument for convergence and competitiveness or the convergence and reform instrument.
Amendment 15 #
Proposal for a regulation Recital 3 Amendment 16 #
Proposal for a regulation Recital 3 (3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro, and of ERM II Member States participating on a voluntary basis, and to ensure their consistency with the European Semester.
Amendment 17 #
Proposal for a regulation Recital 3 (3) At the Union level, the European Semester of economic policy coordination is the framework for the identification of national reform priorities of the Member States and for the monitoring of the implementation of those priorities. This Regulation addresses the need to establish coherence between the reform and investment priorities for the euro area as a whole and the reform and investment objectives of the individual Member States whose currency is the euro
Amendment 18 #
Proposal for a regulation Recital 3 (3)
Amendment 19 #
Proposal for a regulation Recital 3 a (new) (3 a) The current architecture of the Economic and Monetary Union is intrinsically complex. To improve the efficiency and democratic accountability in the Economic and Monetary Union, Member States shall agree to the establishment of a European Minister of Economy and Finance (the Union's Finance Minister) which would preside the Eurogroup, oversee the Budgetary Instrument for Convergence and Competitiveness, and chair the Board of Governors of the European Stability Mechanism, to be integrated into the Union's legal framework through the establishment of the European Monetary Fund. The Union's Finance Minister shall be a Vice-president of the Commission and must be accountable to the European Parliament.
Amendment 20 #
Proposal for a regulation Recital 3 a (new) (3a) In the context of the European Semester, country-specific recommendations are put forward in order to remedy macroeconomic imbalances in the Union. On no account should it be mandatory to incorporate these recommendations - which concern matters falling within the Member States' sphere of competence - into national policy-making.
Amendment 21 #
Proposal for a regulation Recital 4 (4) On an annual basis,
Amendment 22 #
Proposal for a regulation Recital 4 (4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission
Amendment 23 #
Proposal for a regulation Recital 4 (4) On an annual basis, the Council should set out strategic orientations on the reform and investment priorities for the euro area, as part of the recommendation on the economic policy of the euro area. The strategic orientations should be adopted by the Council acting by qualified majority on a recommendation from the Commission, and after the Eurogroup has discussed the reforms and investment priorities that it considers relevant and
Amendment 24 #
Proposal for a regulation Recital 5 (5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should
Amendment 25 #
Proposal for a regulation Recital 5 (5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should
Amendment 26 #
Proposal for a regulation Recital 5 (5) To ensure that strategic orientations reflect the evolving experience of the implementation of the budgetary instrument for convergence and competitiveness, the Commission should, alongside its recommendation on the strategic orientations, as part of its recommendation on the economic policy of the euro area, inform the European Parliament and the Council of how the strategic orientations have been followed during the preceding years.
Amendment 27 #
Proposal for a regulation Recital 6 (6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. T
Amendment 28 #
Proposal for a regulation Recital 6 (6)
Amendment 29 #
Proposal for a regulation Recital 6 (6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and
Amendment 30 #
Proposal for a regulation Recital 6 (6) The Member States whose currency is the euro can decide to submit proposals for reform and investment packages under the budgetary instrument for convergence and competitiveness. To that end, and after having heard the European Parliament, the Council will adopt a Recommendation providing country-specific guidance on the objectives of reforms and investment that can be supported under the budgetary instrument for convergence and
Amendment 31 #
Proposal for a regulation Recital 7 Amendment 32 #
Proposal for a regulation Recital 7 Amendment 33 #
Proposal for a regulation Recital 7 Amendment 34 #
Proposal for a regulation Recital 7 (7) The Council Recommendation providing country-specific guidance on the objectives of reforms and investment in Member States whose currency is the euro, adopted by qualified majority, should be based on a Commission recommendation. This process should be without prejudice to the voluntary nature of participation of Member States whose currency is the euro in the budgetary instrument for convergence and competitiveness, and without prejudice to the Commission’s prerogatives as regards its implementation. The orientation must be in coherence with the overall Union policies.
Amendment 35 #
Proposal for a regulation Recital 8 (8) Within the governance framework set out in this Regulation, the Council, after having heard the relevant Committee within the European Parliament, should set out the strategic orientations for the euro area as a whole and provide country- specific guidance on the objectives of reform and investment packages of the individual Member States whose currency is the euro. The governance framework should also make sure that the instrument is coherent with other Union policies. As it would be part of the Union budget, it must be in coherence with the overall Union policies and satisfy budgetary principles and requirements in terms of sound financial management, budgetary control and parliamentary accountability. The Commission implements the Union’s budget under Article 317 TFEU, which includes the management of spending programmes. The Commission responsibilities with regard to the budgetary instrument for convergence and competitiveness [within the Reform Support Programme] under Regulation (EU) XXXX/XX should not be affected.
Amendment 36 #
Proposal for a regulation Recital 8 (8)
Amendment 37 #
Proposal for a regulation Recital 8 (8) Within the governance framework set out in this Regulation, the Council should set out the strategic orientations
Amendment 38 #
Proposal for a regulation Recital 8 a (new) (8 a) Within the governance framework it should also make sure that the next the BICC will be sufficiently flexible so that funds can be transferred where is the most needed instead of being allocated ex- ante for the next seven years. This primarily requires to completely avoid the "juste retour" logic.
Amendment 39 #
Proposal for a regulation Recital 9 (9)
Amendment 40 #
Proposal for a regulation Recital 10 (10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council
Amendment 41 #
Proposal for a regulation Recital 10 (10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament can invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the measures taken pursuant to this Regulation. This regulation contains a set of recommendations for the Member States willing to integrate the euro area or are in the process of integrating the euro area.
Amendment 42 #
Proposal for a regulation Recital 10 (10) In order to enhance the dialogue between the Union institutions, in particular between the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability in that economic dialogue, the competent committee of the European Parliament
Amendment 43 #
Proposal for a regulation Article 1 – paragraph 1 1. This Regulation lays down provisions for the governance framework relevant for the budgetary instrument for convergence and competitiveness for the euro area within the Reform and Investment Support Programme under Regulation (EU) XXX/XX10 . _________________
Amendment 44 #
Proposal for a regulation Article 2 – paragraph 1 – introductory part For the purposes of this Regulation,
Amendment 45 #
Proposal for a regulation Article 2 – paragraph 1 – point a Amendment 46 #
Proposal for a regulation Article 2 – paragraph 1 – point a Amendment 47 #
Proposal for a regulation Article 2 – paragraph 1 – point b Amendment 48 #
Proposal for a regulation Article 3 – paragraph 1 – introductory part This Regulation shall contribute to the upward convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance framework relevant for the budgetary instrument for convergence and
Amendment 49 #
Proposal for a regulation Article 3 – paragraph 1 – introductory part This Regulation shall contribute to the convergence and competitiveness of the economies of the Member States whose currency is the euro by defining a governance
Amendment 50 #
Proposal for a regulation Article 3 – paragraph 1 – point a Amendment 51 #
Proposal for a regulation Article 3 – paragraph 1 – point b Amendment 52 #
Proposal for a regulation Article 3 – paragraph 1 – point b Amendment 53 #
Proposal for a regulation Article 4 – paragraph 1 1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area
Amendment 54 #
Proposal for a regulation Article 4 – paragraph 1 1. On a recommendation from the Commission and after discussion in the Eurogroup, the Council shall establish, as part of the euro-area recommendation and on an annual basis, the strategic orientations for the reform and investment priorities of the euro area. Prior to the presentation on a recommendation from the Commission, there should be a discussion at the Euro Summit on the relevant strategic priorities.
Amendment 55 #
Proposal for a regulation Article 4 – paragraph 1 1. On a recommendation from the
Amendment 56 #
Proposal for a regulation Article 4 – paragraph 1 1.
Amendment 57 #
Proposal for a regulation Article 4 – paragraph 1 1. On a recommendation from the Commission and
Amendment 58 #
Proposal for a regulation Article 4 – paragraph 2 2.
Amendment 59 #
Proposal for a regulation Article 5 Amendment 60 #
Proposal for a regulation Article 5 Amendment 61 #
Proposal for a regulation Article 5 – paragraph 1 Amendment 62 #
Proposal for a regulation Article 5 – paragraph 1 1. The Council shall, on a recommendation from the Commission, and after having heard the European Parliament, adopt a recommendation addressed to all Member States whose currency is the euro providing, on an annual basis, country-
Amendment 63 #
Proposal for a regulation Article 5 – paragraph 2 Amendment 64 #
Proposal for a regulation Article 6 – paragraph 1 Amendment 65 #
Proposal for a regulation Article 6 a (new) Article 6 a Voting in European Parliament A majority in the European Parliament shall be defined in accordance with Article 231 TFEU.
Amendment 66 #
Proposal for a regulation Article 8 – paragraph 1 In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament, before the Commission presents the euro area recommendations, may invite the President of the Council, the Commission and, where appropriate, the President of the Eurogroup to appear before the committee to discuss the
Amendment 67 #
Proposal for a regulation Article 8 – paragraph 1 In order to enhance the dialogue between the Union institutions, in particular the European Parliament, the Council and the Commission, and to ensure greater transparency and accountability, the competent committee of the European Parliament may invite the President of the Council
Amendment 7 #
Proposal for a regulation Citation 2 a (new) Having regard to the Commission's Communication for a European Minister of Economy and Finance
Amendment 8 #
Proposal for a regulation Citation 4 a (new) Having regard to the Böge/Berès Report on budgetary capacity for the Eurozone1a _________________ 1a (2015/2344(INI))
Amendment 9 #
Proposal for a regulation Recital 1 (1) The coordination of the economic policies of the Member States is a matter of common concern. The Member States whose currency is the euro have a particular interest in and a responsibility to conduct economic policies that promote the
source: 648.646
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